Shorted on confirmation on flat bottom break down. Covered into spike. Stopped out above resistance level. Stock ran massively to the downside an hour and change later.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-28 13:04:32 | LIVE | sell | $20.950 | short |
2014-01-28 13:44:48 | LIVE | buy | $20.530 | short |
2014-01-28 13:54:30 | LIVE | buy | $21.430 | 0 |
It was out of my top 5 after I was out of it, so I wasn't watching it by the minute. After it started to break down, it didn't really breathe until it hit bottom -- no other good entry.
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Why not reshort it.